Angola’s state budget for 2011 forecasts inflation of less than 9 percent

6 September 2010

Luanda, Angola, 6 Sept – The Angolan government is drawing up its General State Budget for 2011 with a single-digit inflation target, said the Minister of State and head of the Civil House of the Presidency.

At a meeting with the press to summarise 200 days of government following the promulgation of the Constitution on 5 February, Carlos Maria Feijó also said that the Budget for 2011 included a growth forecast of 8.3 percent, as compared to 6.7 percent in the revised budget for this year.

Feijó said that over the last 100 days a “Technical Unit for Treatment of Public Debt,” both domestic and foreign, had been set up, which was intended to monitor Angolan debt.

According to Feijó, the unit was set up because there were several entities dealing with public debt, ranging from the Bank of Angola to the Finance Ministry.

He said that the idea was for a single body to deal with all debt, also with the aim of determining the country’s capacity to take on foreign debt. Figures point to Angola’s debt standing at 38.7 percent of GDP, which means that it is reaching levels that require the State’s attention. (macauhub)